With no announcement of the interim PE data, I need insider buying now to assure me all is well. Past insider buying is not relevant as there is now new info that we are not privy to but they are.
Nadar is making a ton of money with his salary. He should be able to easily buy $50,000 worth unless he spends everything he makes.
How do you know the company has not slowed down due to lack of funds? I think the facts suggest they have slowed things down. There has not been enough money raised to keep spending at the same level as before so they must have slowed things down. Something has to give.
They need something to get those warrants to convert. I think everyone here thought it was going to be interim PE data. When they punted on that, you really have to question what else they can pull out of their bag of tricks to incentivize the conversion. And if there is nothing else, then the only reasonable conclusion that can be drawn is something went amiss with the data and the company is in a very bad spot. Something positive needs to come out next week to give the warrant holders time to implement the conversion. If nothing positive enough to trigger those warrant conversions is announced, it cannot be spun as something good. Even if they extend the 12/22 date, they are going to need to find money somewhere and I believe the company and you overestimate how easily that can be done. It is obviously getting harder with each smaller raise. Perhaps the most hopeful thing is that Paulson is now in this thing so deep they almost have to keep trying to hit their clients up for new cash as it would be a huge disaster for them if it hits the skids.
On the bankruptcy front, remember too that the CEO and some friends owns the only debt and stands to be able to claim the company's assets in the case of bankruptcy. And that debt comes due in January. I seriously doubt that is their intention but I would not ignore the possibility either.
